Cartesian Therapeutics (NASDAQ:RNAC) Upgraded to Overweight at Cantor Fitzgerald

Cartesian Therapeutics (NASDAQ:RNAC) was upgraded by analysts at Cantor Fitzgerald from a “neutral” rating to an “overweight” rating in a report released on Monday. The brokerage currently has a $16.00 price objective on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 115.63% from the company’s previous close.

A number of other equities analysts have also commented on RNAC. HC Wainwright dropped their price target on Cartesian Therapeutics from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday, November 19th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cartesian Therapeutics in a research note on Monday, December 29th. Needham & Company LLC upped their price objective on Cartesian Therapeutics from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, January 9th. Finally, BTIG Research raised their target price on shares of Cartesian Therapeutics from $42.00 to $44.00 and gave the company a “buy” rating in a report on Friday, November 14th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Cartesian Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

Cartesian Therapeutics Trading Up 8.3%

RNAC traded up $0.57 during trading on Monday, hitting $7.42. 1,989,480 shares of the company traded hands, compared to its average volume of 167,802. The company has a market cap of $192.92 million, a PE ratio of -4.76 and a beta of 0.41. The stock’s 50-day simple moving average is $7.16 and its two-hundred day simple moving average is $8.18. Cartesian Therapeutics has a 1 year low of $5.98 and a 1 year high of $18.80.

Cartesian Therapeutics (NASDAQ:RNAC) last announced its quarterly earnings results on Thursday, March 12th. The company reported ($3.57) EPS for the quarter, missing the consensus estimate of ($0.82) by ($2.75). The business had revenue of $0.95 million for the quarter, compared to analyst estimates of $0.10 million. Equities analysts expect that Cartesian Therapeutics will post 4.56 EPS for the current year.

Insider Transactions at Cartesian Therapeutics

In other news, CFO Blaine Davis sold 10,591 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $6.82, for a total value of $72,230.62. Following the completion of the sale, the chief financial officer directly owned 121,220 shares of the company’s stock, valued at $826,720.40. This trade represents a 8.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 60.30% of the stock is currently owned by company insiders.

Institutional Trading of Cartesian Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. AlphaQuest LLC boosted its stake in Cartesian Therapeutics by 64.6% during the third quarter. AlphaQuest LLC now owns 6,924 shares of the company’s stock worth $71,000 after buying an additional 2,717 shares during the period. R Squared Ltd purchased a new stake in shares of Cartesian Therapeutics in the fourth quarter valued at $74,000. Wells Fargo & Company MN lifted its holdings in shares of Cartesian Therapeutics by 49.2% in the 4th quarter. Wells Fargo & Company MN now owns 11,762 shares of the company’s stock worth $85,000 after acquiring an additional 3,878 shares during the last quarter. Virtus Investment Advisers LLC boosted its stake in shares of Cartesian Therapeutics by 12.5% during the 2nd quarter. Virtus Investment Advisers LLC now owns 9,183 shares of the company’s stock worth $95,000 after purchasing an additional 1,023 shares during the period. Finally, Miller Financial Services LLC grew its holdings in Cartesian Therapeutics by 17.2% during the 4th quarter. Miller Financial Services LLC now owns 13,643 shares of the company’s stock valued at $98,000 after purchasing an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 86.95% of the company’s stock.

About Cartesian Therapeutics

Cartesian Therapeutics, trading on NASDAQ under the symbol RNAC, is a clinical‐stage biotechnology company specializing in the development of messenger RNA (mRNA)-based therapeutics. The company leverages a proprietary RNA delivery platform to induce the production of therapeutic proteins within patients, aiming to address a range of diseases through in vivo expression of disease-modifying agents. Cartesian’s technology is designed to optimize mRNA stability, translation efficiency and targeted delivery, with potential applications spanning oncology, autoimmune disorders and rare genetic conditions.

At the core of Cartesian’s approach is a synthetic mRNA platform that incorporates proprietary lipid nanoparticle (LNP) formulations.